Morgan Stanley brokers say the explosion of interest in the weight loss drugs will be far bigger than first thought. And these major companies could get hit.
Shares had the best day since 2022, the Aussie dollar fell, and bond yields tumbled after core inflation prompted traders to rapidly start pricing in a rate cut in Australia.
The central bank is expected to oversee a “straightforward” meeting this week, after last week’s inflation result took the heat out of tightening fears.
But the decline has wreaked havoc on the ASX energy sector – already one of the worst-performing of the year to date – with Santos and Woodside both down.